• Fri. Dec 8th, 2023

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Cheapest Car Insurance in Florida: 2023 Rates and Companies

The cheapest car insurance companies in Florida include Geico, State Farm, Travelers, Farmers and Progressive. Below, we go into more detail about each company’s offerings, reputation, customer ratings and history.

#1 Geico: Best for Budget-Conscious Drivers

J.D. Power regional rating: 812/1,000
AM Best financial strength rating: A++
Better Business Bureau rating: A+

Geico stands out from competitors due to its wide selection of car insurance discounts. These include significant savings opportunities for federal employees, accident-free drivers, students with good grades and more.

Geico also has a multi-policy discount, which means bundling auto insurance with homeowners or renters can save you money. For drivers in Florida, where coverage can be pricey, this may be a huge benefit for many.

Along with standard car insurance coverage, Geico offers add-ons such as emergency roadside assistance and rental reimbursement. It’s also one of the only top auto insurers to sell mechanical breakdown insurance (MBI), which acts like a car warranty and covers vehicle parts that malfunction.

Pie chart that shows the satisfaction levels of Geico policyholders

Read more: Geico insurance review

#2 State Farm: Best Customer Experience

J.D. Power regional rating: 833/1,000
AM Best financial strength rating: A++
BBB rating: A+

State Farm has the cheapest average rates for high-risk drivers in Florida. Our research found that it tended to be the most affordable option for people with a speeding ticket, DUI or recent accident on their driving record.

The company also offers young drivers (another high-risk group) a few opportunities to save money on coverage. State Farm has a safe driving program for people under the age of 25 called Steer Clear®. The program includes courses and driving practice to help young drivers earn discounts on their auto premiums.

Drivers can also save with State Farm’s Drive Safe & Save™, a telematics insurance program that may reduce a policyholder’s premium based on the driving behaviors it monitors.

Pie chart that shows the satisfaction levels of State Farm policyholders

Read more: State Farm insurance review

#3 Travelers: Best for Most Drivers

J.D. Power regional rating: 798/1,000
AM Best financial strength rating: A++
BBB rating: A

Travelers doesn’t just offer some of the cheapest car insurance in Florida. It also stands out from its competition because of its extensive coverage options. Like most insurers, Travelers offers the six standard types of car insurance that can be part of a full-coverage policy. It also offers the following insurance products as add-ons:

Travelers also has an option for named non-owner car insurance, which provides liability coverage for people who drive frequently but don’t own cars. It’s ideal for people who borrow vehicles, use rental cars often or drive a company car for work and personal use.

Read more: Travelers insurance review

#4 Farmers

J.D. Power regional rating: 777
AM Best financial strength rating: A
BBB rating: Not available at time of publication

Farmers is another good choice for Florida drivers looking for affordable auto insurance. Unlike most telematics programs, Farmers’ Signal® has a potential perk that goes beyond a discount. If you get a score of at least 80% for focused driving every month — meaning you maintain good driving habits — you’re automatically entered into a drawing to win up to $100 in rewards.

The Signal® mobile app also offers CrashAssist, an optional feature that uses your phone’s sensors to detect when a collision occurs. If you’ve been in a car accident, CrashAssist can notify emergency services, help you secure roadside assistance and share your location with family and friends.

Read more: Farmers insurance review

#5 Progressive: Best for Tech-Savvy Drivers

J.D. Power regional rating: 801/1,000
AM Best financial strength rating: A+
BBB rating: A+

If you’re a high-risk driver (such as a driver under the age of 25 or someone with a DUI/DWI or recent accident on your driving record) — Progressive can likely offer you lower car insurance rates than a number of the major providers in Florida.

Progressive also offers several optional auto insurance coverages, including:

  • Rental car reimbursement
  • Gap coverage
  • Ride-share coverage
  • Roadside assistance
  • Custom parts coverage

Read more: Progressive insurance review


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